Trying to frame potential price action, should BTC about to complete a B wave correction.
DXY is looking bullish... a bearish re test of the 21 DEMA would be > 4% positive move.
DXY + 1% : BTC/USD -15%
a 4% positive move out of the DXY suggests a near 60% correction out of BTC/USD.
While this 1:15 correlation loosely fits, it proved useful in mid -late 2020 (idea attached).
CME OI is heavily weighted to the shorts.
Record BTC currently being sent to exchanges (Cryptoquant BTC: Gemini Inflow).
Oh yah.. Peter Schiff (for brains) is bullish.. So.. there's that.
The price of BTC will be heavily influenced by the global financial climate as we moved closer to the 1 year anniversary of last year's CV Fire Sale.
If this correction does occur -as PA nears the completion of BC, it will likely be gearing up for a HUGE bullish recovery.
Bullish news such could be a catalyst.
We'll have a lot more insight next week.
DXY is looking bullish... a bearish re test of the 21 DEMA would be > 4% positive move.
DXY + 1% : BTC/USD -15%
a 4% positive move out of the DXY suggests a near 60% correction out of BTC/USD.
While this 1:15 correlation loosely fits, it proved useful in mid -late 2020 (idea attached).
CME OI is heavily weighted to the shorts.
Record BTC currently being sent to exchanges (Cryptoquant BTC: Gemini Inflow).
Oh yah.. Peter Schiff (for brains) is bullish.. So.. there's that.
The price of BTC will be heavily influenced by the global financial climate as we moved closer to the 1 year anniversary of last year's CV Fire Sale.
If this correction does occur -as PA nears the completion of BC, it will likely be gearing up for a HUGE bullish recovery.
Bullish news such could be a catalyst.
We'll have a lot more insight next week.
